Money Concepts Capital Corp Makes New Investment in The Bank of New York Mellon Corporation (NYSE:BK)

Money Concepts Capital Corp bought a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,468 shares of the bank's stock, valued at approximately $459,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Achmea Investment Management B.V. grew its holdings in Bank of New York Mellon by 3.5% during the 1st quarter. Achmea Investment Management B.V. now owns 282,925 shares of the bank's stock worth $23,729,000 after acquiring an additional 9,654 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in Bank of New York Mellon by 27.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 380,192 shares of the bank's stock worth $31,887,000 after acquiring an additional 82,481 shares during the last quarter. Transcend Capital Advisors LLC grew its holdings in Bank of New York Mellon by 7.5% during the 1st quarter. Transcend Capital Advisors LLC now owns 3,948 shares of the bank's stock worth $331,000 after acquiring an additional 274 shares during the last quarter. Board of the Pension Protection Fund bought a new stake in shares of Bank of New York Mellon in the 1st quarter valued at $855,000. Finally, TFC Financial Management Inc. boosted its stake in shares of Bank of New York Mellon by 1,816.7% in the 1st quarter. TFC Financial Management Inc. now owns 690 shares of the bank's stock valued at $58,000 after purchasing an additional 654 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Up 1.4%

Shares of NYSE BK opened at $91.28 on Friday. The Bank of New York Mellon Corporation has a 12-month low of $59.19 and a 12-month high of $92.64. The firm has a market cap of $65.31 billion, a PE ratio of 14.87, a P/E/G ratio of 1.02 and a beta of 1.08. The company's fifty day simple moving average is $86.88 and its 200 day simple moving average is $83.61. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same period last year, the firm earned $1.29 earnings per share. The business's quarterly revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

Insider Buying and Selling at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the transaction, the executive vice president now directly owns 55,115 shares of the company's stock, valued at $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. The trade was a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,114 shares of company stock valued at $7,869,795. Corporate insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

BK has been the topic of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Citigroup upped their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, March 24th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and upped their price objective for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Finally, Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of "Moderate Buy" and a consensus target price of $91.85.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.

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